EIA reported a draw of -679 MBbls in U.S. crude-oil inventories for the week ending 11/27/2020. This was smaller than the average estimate of -1900 MBbls as reported by Bloomberg.
Prices were up five minutes following the announcement, to $44.91, from $44.83 just before 9:30am.
Inventories for the US are now at a surplus of 36.09 MBbls to last year and a surplus of 27.74 MBbls to the five-year average.
